50 Florida Cities Where Homeowners Have the Worst Financial Stress

The grass isn’t necessarily greener if you own property in Florida. A recent study conducted by GOBankingRates revealed there are at least 50 cities in Florida where homeowners are under a great deal of financial stress — and several cities to rank have some of the hottest housing markets in the United States.

To determine which cities made the list, GOBankingRates sourced the top 100 cities by population and found each city’s total population, population for ages 65 and over, percent population for ages 65 and over, total households and household median income. For the financial stress metrics, GOBankingRates pulled each city’s unemployment rate, poverty rate and percent of households that spend 35% or more of their household income on selected monthly owner costs. Additional factors calculated for each city include the average single family home value, average mortgage cost, average expenditure costs and total cost of living .

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Key Findings

• Financial stress extends to Florida suburbs, not just cities. Miami Gardens , a suburb in Miami, took first place as the Florida city where homeowners have the greatest financial stress, averaging $2,302 in monthly expenditure costs. Other Miami cities and suburbs found in the top 10 include North Miami (#3) and Miami (#4).
• As a separate municipality from Miami, Miami Beach and North Miami Beach landed spots in the top 10 at #6 and #8, respectively.
• Several Florida cities that are popular retirement destinations ranked in the top 50. These include Fort Lauderdale (#21), Gainesville (#40), Tampa (#42), North Fort Myers (#43) and Orlando (#45).

Ranked from first to 50th place, the financial stress is greatest for homeowners in the following 50 Florida cities .

1. Miami Gardens

• Population total: 111,618
• Population 65+ (#): 18,477
• Population 65+ (%): 16.6%

• Household total: 34,351
• Household median income: $56,071
• Single family home average value: $477,112

• Average monthly mortgage cost: $2,706
• Average monthly expenditure cost: $2,302
• Total monthly cost-of-living: $5,008
• Total annual cost-of-living: $60,096
• Livability: 73/100

• Unemployment rate: 4.8%
• Cost-burdened households (35% or more): 47.1%
• Poverty rate: 15.4%

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2. Pine Hills

• Population total: 83,221
• Population 65+ (#): 9,157
• Population 65+ (%): 11.0%

• Household total: 23,083
• Household median income: $49,474
• Single family home average value: $290,625

• Average monthly mortgage cost: $1,648
• Average monthly expenditure cost: $2,177
• Total monthly cost-of-living: $3,825
• Total annual cost-of-living: $45,900
• Livability: 73/100

• Unemployment rate: 8.7%
• Cost-burdened households (35% or more): 36.2%
• Poverty rate: 23.6%

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3. North Miami

• Population total: 59,854
• Population 65+ (#): 8,266
• Population 65+ (%): 13.8%

• Household total: 20,214
• Household median income: $49,069
• Single family home average value: $511,767

• Average monthly mortgage cost: $2,902
• Average monthly expenditure cost: $2,285
• Total monthly cost-of-living: $5,187
• Total annual cost-of-living: $62,240
• Livability: 79/100

• Unemployment rate: 3.9%
• Cost-burdened households (35% or more): 44.3%
• Poverty rate: 18.9%

4. Miami

• Population total: 59,854
• Population 65+ (#): 8,266
• Population 65+ (%): 13.8%

• Household total: 20,214
• Household median income: $49,069
• Single family home average value: $511,767

• Average monthly mortgage cost: $2,902
• Average monthly expenditure cost: $2,285
• Total monthly cost-of-living: $5,187
• Total annual cost-of-living: $62,240
• Livability: 79/100

• Unemployment rate: 3.9%
• Cost-burdened households (35% or more): 44.3%
• Poverty rate: 18.9%

5. Fort Pierce

• Population total: 47,153
• Population 65+ (#): 9,787
• Population 65+ (%): 20.8%

• Household total: 17,971
• Household median income: $45,121
• Single family home average value: $300,615

• Average monthly mortgage cost: $1,705
• Average monthly expenditure cost: $1,933
• Total monthly cost-of-living: $3,638
• Total annual cost-of-living: $43,655
• Livability: 75/100

• Unemployment rate: 5.6%
• Cost-burdened households (35% or more): 37.8%
• Poverty rate: 29.0%

6. Miami Beach

• Population total: 82,400
• Population 65+ (#): 14,986
• Population 65+ (%): 18.2%

• Household total: 41,711
• Household median income: $65,116
• Single family home average value: $2,590,906

• Average monthly mortgage cost: $14,693
• Average monthly expenditure cost: $2,232
• Total monthly cost-of-living: $16,925
• Total annual cost-of-living: $203,099
• Livability: 70/100

• Unemployment rate: 2.7%
• Cost-burdened households (35% or more): 32.0%
• Poverty rate: 13.6%

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7. Lauderhill

• Population total: 73,987
• Population 65+ (#): 11,322
• Population 65+ (%): 15.3%

• Household total: 26,464
• Household median income: $48,523
• Single family home average value: $412,386

• Average monthly mortgage cost: $2,339
• Average monthly expenditure cost: $2,217
• Total monthly cost-of-living: $4,555
• Total annual cost-of-living: $54,664
• Livability: 79/100

• Unemployment rate: 5.6%
• Cost-burdened households (35% or more): 36.4%
• Poverty rate: 18.6%

8. North Miami Beach

• Population total: 43,269
• Population 65+ (#): 6,249
• Population 65+ (%): 14.4%

• Household total: 14,899
• Household median income: $56,122
• Single family home average value: $523,820

• Average monthly mortgage cost: $2,971
• Average monthly expenditure cost: $2,305
• Total monthly cost-of-living: $5,276
• Total annual cost-of-living: $63,310
• Livability: 84/100

• Unemployment rate: 3.6%
• Cost-burdened households (35% or more): 41.2%
• Poverty rate: 13.5%

9. Hialeah

• Population total: 222,996
• Population 65+ (#): 44,870
• Population 65+ (%): 20.1%

• Household total: 76,255
• Household median income: $49,531
• Single family home average value: $559,484

• Average monthly mortgage cost: $3,173
• Average monthly expenditure cost: $2,282
• Total monthly cost-of-living: $5,454
• Total annual cost-of-living: $65,453
• Livability: 73/100

• Unemployment rate: 2.3%
• Cost-burdened households (35% or more): 40.1%
• Poverty rate: 17.8%

10. North Lauderdale

• Population total: 44,635
• Population 65+ (#): 4,845
• Population 65+ (%): 10.9%

• Household total: 15,394
• Household median income: $60,168
• Single family home average value: $384,185

• Average monthly mortgage cost: $2,179
• Average monthly expenditure cost: $2,229
• Total monthly cost-of-living: $4,408
• Total annual cost-of-living: $52,891
• Livability: 75/100

• Unemployment rate: 4.6%
• Cost-burdened households (35% or more): 37.5%
• Poverty rate: 16.9%

11. Homestead

• Population total: 79,996
• Population 65+ (#): 6,246
• Population 65+ (%): 7.8%

• Household total: 24,626
• Household median income: $57,739
• Single family home average value: $467,728

• Average monthly mortgage cost: $2,652
• Average monthly expenditure cost: $2,349
• Total monthly cost-of-living: $5,002
• Total annual cost-of-living: $60,020
• Livability: 74/100

• Unemployment rate: 3.1%
• Cost-burdened households (35% or more): 34.0%
• Poverty rate: 20.4%

12. Pompano Beach

• Population total: 111,790
• Population 65+ (#): 20,739
• Population 65+ (%): 18.6%

• Household total: 46,038
• Household median income: $61,155
• Single family home average value: $449,082

• Average monthly mortgage cost: $2,547
• Average monthly expenditure cost: $2,190
• Total monthly cost-of-living: $4,736
• Total annual cost-of-living: $56,838
• Livability: 73/100

• Unemployment rate: 5.5%
• Cost-burdened households (35% or more): 36.4%
• Poverty rate: 15.9%

13. Doral

• Population total: 74,891
• Population 65+ (#): 6,029
• Population 65+ (%): 8.1%

• Household total: 24,247
• Household median income: $83,823
• Single family home average value: $684,781

• Average monthly mortgage cost: $3,883
• Average monthly expenditure cost: $2,309
• Total monthly cost-of-living: $6,192
• Total annual cost-of-living: $74,305
• Livability: 79/100

• Unemployment rate: 2.1%
• Cost-burdened households (35% or more): 41.3%
• Poverty rate: 10.8%

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14. Cutler Bay

• Population total: 44,738
• Population 65+ (#): 7,181
• Population 65+ (%): 16.1%

• Household total: 14,366
• Household median income: $78,569
• Single family home average value: $588,329

• Average monthly mortgage cost: $3,336
• Average monthly expenditure cost: $2,405
• Total monthly cost-of-living: $5,741
• Total annual cost-of-living: $68,898
• Livability: 79/100

• Unemployment rate: 2.9%
• Cost-burdened households (35% or more): 36.8%
• Poverty rate: 10.4%

15. Kissimmee

• Population total: 78,478
• Population 65+ (#): 9,935
• Population 65+ (%): 12.7%

• Household total: 24,291
• Household median income: $45,319
• Single family home average value: $394,401

• Average monthly mortgage cost: $2,237
• Average monthly expenditure cost: $2,059
• Total monthly cost-of-living: $4,296
• Total annual cost-of-living: $51,550
• Livability: 78/100

• Unemployment rate: 4.2%
• Cost-burdened households (35% or more): 32.6%
• Poverty rate: 26.0%

16. Tamiami

• Population total: 52,851
• Population 65+ (#): 11,438
• Population 65+ (%): 21.6%

• Household total: 17,774
• Household median income: $72,645
• Single family home average value: $676,084

• Average monthly mortgage cost: $3,834
• Average monthly expenditure cost: $2,357
• Total monthly cost-of-living: $6,191
• Total annual cost-of-living: $74,297
• Livability: 77/100

• Unemployment rate: 2.1%
• Cost-burdened households (35% or more): 37.3%
• Poverty rate: 12.3%

17. Sunrise

• Population total: 96,510
• Population 65+ (#): 19,143
• Population 65+ (%): 19.8%

• Household total: 37,078
• Household median income: $66,001
• Single family home average value: $486,240

• Average monthly mortgage cost: $2,757
• Average monthly expenditure cost: $2,213
• Total monthly cost-of-living: $4,970
• Total annual cost-of-living: $59,642
• Livability: 81/100

• Unemployment rate: 4.3%
• Cost-burdened households (35% or more): 38.2%
• Poverty rate: 11.1%

18. Coral Gables

• Population total: 49,696
• Population 65+ (#): 9,665
• Population 65+ (%): 19.4%

• Household total: 18,947
• Household median income: $118,203
• Single family home average value: $1,994,935

• Average monthly mortgage cost: $11,313
• Average monthly expenditure cost: $2,261
• Total monthly cost-of-living: $13,574
• Total annual cost-of-living: $162,892
• Livability: 84/100

• Unemployment rate: 2.7%
• Cost-burdened households (35% or more): 30.3%
• Poverty rate: 9.5%

19. Tamarac

• Population total: 71,578
• Population 65+ (#): 18,652
• Population 65+ (%): 26.1%

• Household total: 30,605
• Household median income: $59,140
• Single family home average value: $396,685

• Average monthly mortgage cost: $2,250
• Average monthly expenditure cost: $2,225
• Total monthly cost-of-living: $4,475
• Total annual cost-of-living: $53,695
• Livability: 75/100

• Unemployment rate: 3.6%
• Cost-burdened households (35% or more): 37.2%
• Poverty rate: 12.7%

20. Hollywood, Florida

• Population total: 152,764
• Population 65+ (#): 25,776
• Population 65+ (%): 16.9%

• Household total: 60,138
• Household median income: $61,958
• Single family home average value: $517,090

• Average monthly mortgage cost: $2,932
• Average monthly expenditure cost: $2,224
• Total monthly cost-of-living: $5,156
• Total annual cost-of-living: $61,874
• Livability: 75/100

• Unemployment rate: 4.1%
• Cost-burdened households (35% or more): 34.6%
• Poverty rate: 12.6%

21. Fort Lauderdale

• Population total: 182,673
• Population 65+ (#): 35,267
• Population 65+ (%): 19.3%

• Household total: 80,031
• Household median income: $75,376
• Single family home average value: $599,017

• Average monthly mortgage cost: $3,397
• Average monthly expenditure cost: $2,209
• Total monthly cost-of-living: $5,606
• Total annual cost-of-living: $67,270
• Livability: 81/100

• Unemployment rate: 3.5%
• Cost-burdened households (35% or more): 34.0%
• Poverty rate: 14.9%

22. Deerfield Beach

• Population total: 86,455
• Population 65+ (#): 20,195
• Population 65+ (%): 23.4%

• Household total: 36,219
• Household median income: $53,741
• Single family home average value: $443,626

• Average monthly mortgage cost: $2,516
• Average monthly expenditure cost: $2,170
• Total monthly cost-of-living: $4,685
• Total annual cost-of-living: $56,226
• Livability: 75/100

• Unemployment rate: 3.8%
• Cost-burdened households (35% or more): 34.8%
• Poverty rate: 15.5%

23. Margate

• Population total: 58,396
• Population 65+ (#): 13,735
• Population 65+ (%): 23.5%

• Household total: 25,468
• Household median income: $56,324
• Single family home average value: $454,312

• Average monthly mortgage cost: $2,576
• Average monthly expenditure cost: $2,212
• Total monthly cost-of-living: $4,788
• Total annual cost-of-living: $57,457
• Livability: 80/100

• Unemployment rate: 2.7%
• Cost-burdened households (35% or more): 38.1%
• Poverty rate: 12.3%

24. Oakland Park

• Population total: 44,056
• Population 65+ (#): 5,696
• Population 65+ (%): 12.9%

• Household total: 17,415
• Household median income: $64,989
• Single family home average value: $474,112

• Average monthly mortgage cost: $2,689
• Average monthly expenditure cost: $2,199
• Total monthly cost-of-living: $4,887
• Total annual cost-of-living: $58,647
• Livability: 76/100

• Unemployment rate: 4.8%
• Cost-burdened households (35% or more): 31.9%
• Poverty rate: 13.9%

25. West Palm Beach

• Population total: 117,588
• Population 65+ (#): 23,388
• Population 65+ (%): 19.9%

• Household total: 49,348
• Household median income: $64,044
• Single family home average value: $470,797

• Average monthly mortgage cost: $2,670
• Average monthly expenditure cost: $2,188
• Total monthly cost-of-living: $4,858
• Total annual cost-of-living: $58,297
• Livability: 85/100

• Unemployment rate: 3.9%
• Cost-burdened households (35% or more): 32.1%
• Poverty rate: 16.0%

26. The Hammocks

• Population total: 59,843
• Population 65+ (#): 9,507
• Population 65+ (%): 15.9%

• Household total: 19,358
• Household median income: $79,139
• Single family home average value: $596,467

• Average monthly mortgage cost: $3,382
• Average monthly expenditure cost: $2,387
• Total monthly cost-of-living: $5,769
• Total annual cost-of-living: $69,229
• Livability: 84/100

• Unemployment rate: 2.1%
• Cost-burdened households (35% or more): 32.2%
• Poverty rate: 12.9%

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27. Greenacres

• Population total: 43,651
• Population 65+ (#): 7,288
• Population 65+ (%): 16.7%

• Household total: 15,535
• Household median income: $58,981
• Single family home average value: $384,152

• Average monthly mortgage cost: $2,178
• Average monthly expenditure cost: $2,223
• Total monthly cost-of-living: $4,401
• Total annual cost-of-living: $52,818
• Livability: 68/100

• Unemployment rate: 3.5%
• Cost-burdened households (35% or more): 30.9%
• Poverty rate: 14.7%

28. Poinciana

• Population total: 69,311
• Population 65+ (#): 13,557
• Population 65+ (%): 19.6%

• Household total: 21,284
• Household median income: $60,928
• Single family home average value: $307,606

• Average monthly mortgage cost: $1,744
• Average monthly expenditure cost: $2,239
• Total monthly cost-of-living: $3,984
• Total annual cost-of-living: $47,805
• Livability: 54/100

• Unemployment rate: 2.6%
• Cost-burdened households (35% or more): 34.1%
• Poverty rate: 12.5%

29. Boynton Beach

• Population total: 80,068
• Population 65+ (#): 17,926
• Population 65+ (%): 22.4%

• Household total: 32,360
• Household median income: $68,875
• Single family home average value: $498,221

• Average monthly mortgage cost: $2,825
• Average monthly expenditure cost: $2,197
• Total monthly cost-of-living: $5,023
• Total annual cost-of-living: $60,274
• Livability: 73/100

• Unemployment rate: 3.6%
• Cost-burdened households (35% or more): 31.2%
• Poverty rate: 11.4%

30. Coral Springs

• Population total: 133,801
• Population 65+ (#): 16,187
• Population 65+ (%): 12.1%

• Household total: 44,260
• Household median income: $87,488
• Single family home average value: $659,736

• Average monthly mortgage cost: $3,741
• Average monthly expenditure cost: $2,235
• Total monthly cost-of-living: $5,976
• Total annual cost-of-living: $71,716
• Livability: 78/100

• Unemployment rate: 4.4%
• Cost-burdened households (35% or more): 28.4%
• Poverty rate: 8.7%

31. Lehigh Acres

• Population total: 124,440
• Population 65+ (#): 16,236
• Population 65+ (%): 13.0%

• Household total: 37,538
• Household median income: $59,733
• Single family home average value: $317,544

• Average monthly mortgage cost: $1,801
• Average monthly expenditure cost: $2,246
• Total monthly cost-of-living: $4,046
• Total annual cost-of-living: $48,558
• Livability: 58/100

• Unemployment rate: 3.5%
• Cost-burdened households (35% or more): 26.1%
• Poverty rate: 16.9%

32. Coconut Creek

• Population total: 57,574
• Population 65+ (#): 10,958
• Population 65+ (%): 19.0%

• Household total: 23,696
• Household median income: $72,740
• Single family home average value: $539,701

• Average monthly mortgage cost: $3,061
• Average monthly expenditure cost: $2,209
• Total monthly cost-of-living: $5,270
• Total annual cost-of-living: $63,239
• Livability: 83/100

• Unemployment rate: 3.2%
• Cost-burdened households (35% or more): 31.6%
• Poverty rate: 9.9%

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33. Delray Beach

• Population total: 66,646
• Population 65+ (#): 18,273
• Population 65+ (%): 27.4%

• Household total: 28,592
• Household median income: $76,558
• Single family home average value: $595,108

• Average monthly mortgage cost: $3,375
• Average monthly expenditure cost: $2,181
• Total monthly cost-of-living: $5,555
• Total annual cost-of-living: $66,665
• Livability: 80/100

• Unemployment rate: 3.5%
• Cost-burdened households (35% or more): 29.1%
• Poverty rate: 12.2%

34. Plantation

• Population total: 93,130
• Population 65+ (#): 15,785
• Population 65+ (%): 16.9%

• Household total: 36,005
• Household median income: $83,074
• Single family home average value: $638,602

• Average monthly mortgage cost: $3,621
• Average monthly expenditure cost: $2,193
• Total monthly cost-of-living: $5,814
• Total annual cost-of-living: $69,774
• Livability: 81/100

• Unemployment rate: 3.0%
• Cost-burdened households (35% or more): 30.1%
• Poverty rate: 10.4%

35. Pembroke Pines

• Population total: 170,472
• Population 65+ (#): 32,259
• Population 65+ (%): 18.9%

• Household total: 62,807
• Household median income: $77,657
• Single family home average value: $602,597

• Average monthly mortgage cost: $3,417
• Average monthly expenditure cost: $2,252
• Total monthly cost-of-living: $5,669
• Total annual cost-of-living: $68,027
• Livability: 82/100

• Unemployment rate: 3.0%
• Cost-burdened households (35% or more): 28.0%
• Poverty rate: 11.0%

36. Miramar

• Population total: 135,158
• Population 65+ (#): 15,930
• Population 65+ (%): 11.8%

• Household total: 43,038
• Household median income: $81,812
• Single family home average value: $561,149

• Average monthly mortgage cost: $3,182
• Average monthly expenditure cost: $2,248
• Total monthly cost-of-living: $5,430
• Total annual cost-of-living: $65,157
• Livability: 79/100

• Unemployment rate: 3.0%
• Cost-burdened households (35% or more): 30.2%
• Poverty rate: 8.2%

37. Boca Raton

• Population total: 97,980
• Population 65+ (#): 25,198
• Population 65+ (%): 25.7%

• Household total: 41,530
• Household median income: $95,570
• Single family home average value: $740,798

• Average monthly mortgage cost: $4,201
• Average monthly expenditure cost: $2,185
• Total monthly cost-of-living: $6,386
• Total annual cost-of-living: $76,635
• Livability: 79/100

• Unemployment rate: 3.4%
• Cost-burdened households (35% or more): 28.4%
• Poverty rate: 9.4%

38. Davie

• Population total: 105,821
• Population 65+ (#): 12,985
• Population 65+ (%): 12.3%

• Household total: 37,941
• Household median income: $84,346
• Single family home average value: $643,668

• Average monthly mortgage cost: $3,650
• Average monthly expenditure cost: $2,222
• Total monthly cost-of-living: $5,872
• Total annual cost-of-living: $70,463
• Livability: 81/100

• Unemployment rate: 3.1%
• Cost-burdened households (35% or more): 26.4%
• Poverty rate: 11.5%

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39. Bradenton

• Population total: 55,795
• Population 65+ (#): 14,886
• Population 65+ (%): 26.7%

• Household total: 22,161
• Household median income: $55,795
• Single family home average value: $439,160

• Average monthly mortgage cost: $2,490
• Average monthly expenditure cost: $2,005
• Total monthly cost-of-living: $4,495
• Total annual cost-of-living: $53,940
• Livability: 82/100

• Unemployment rate: 3.6%
• Cost-burdened households (35% or more): 29.7%
• Poverty rate: 14.6%

40. Gainesville

• Population total: 142,414
• Population 65+ (#): 15,807
• Population 65+ (%): 11.1%

• Household total: 55,193
• Household median income: $43,783
• Single family home average value: $327,870

• Average monthly mortgage cost: $1,859
• Average monthly expenditure cost: $1,956
• Total monthly cost-of-living: $3,815
• Total annual cost-of-living: $45,783
• Livability: 84/100

• Unemployment rate: 3.2%
• Cost-burdened households (35% or more): 20.8%
• Poverty rate: 29.0%

41. Cape Coral

• Population total: 198,912
• Population 65+ (#): 49,214
• Population 65+ (%): 24.7%

• Household total: 76,882
• Household median income: $72,474
• Single family home average value: $394,615

• Average monthly mortgage cost: $2,238
• Average monthly expenditure cost: $2,179
• Total monthly cost-of-living: $4,416
• Total annual cost-of-living: $52,998
• Livability: 76/100

• Unemployment rate: 2.5%
• Cost-burdened households (35% or more): 30.0%
• Poverty rate: 9.8%

42. Tampa

• Population total: 388,768
• Population 65+ (#): 50,420
• Population 65+ (%): 13.0%

• Household total: 157,066
• Household median income: $66,802
• Single family home average value: $400,771

• Average monthly mortgage cost: $2,273
• Average monthly expenditure cost: $2,091
• Total monthly cost-of-living: $4,364
• Total annual cost-of-living: $52,367
• Livability: 80/100

• Unemployment rate: 3.4%
• Cost-burdened households (35% or more): 24.6%
• Poverty rate: 16.8%

43. North Fort Myers

• Population total: 42,492
• Population 65+ (#): 20,336
• Population 65+ (%): 47.9%

• Household total: 21,355
• Household median income: $53,705
• Single family home average value: $332,706

• Average monthly mortgage cost: $1,887
• Average monthly expenditure cost: $2,145
• Total monthly cost-of-living: $4,031
• Total annual cost-of-living: $48,375
• Livability: 74/100

• Unemployment rate: 2.0%
• Cost-burdened households (35% or more): 28.8%
• Poverty rate: 14.3%

Discover More: Here’s the Salary Needed to Actually Take Home $100K in Every State

44. Town ‘n’ Country

• Population total: 89,456
• Population 65+ (#): 11,466
• Population 65+ (%): 12.8%

• Household total: 33,379
• Household median income: $63,947
• Single family home average value: $400,638

• Average monthly mortgage cost: $2,272
• Average monthly expenditure cost: $2,122
• Total monthly cost-of-living: $4,394
• Total annual cost-of-living: $52,730
• Livability: 76/100

• Unemployment rate: 3.8%
• Cost-burdened households (35% or more): 24.9%
• Poverty rate: 13.1%

45. Orlando

• Population total: 307,738
• Population 65+ (#): 33,322
• Population 65+ (%): 10.8%

• Household total: 122,607
• Household median income: $66,292
• Single family home average value: $418,748

• Average monthly mortgage cost: $2,375
• Average monthly expenditure cost: $2,098
• Total monthly cost-of-living: $4,473
• Total annual cost-of-living: $53,674
• Livability: 81/100

• Unemployment rate: 3.7%
• Cost-burdened households (35% or more): 23.4%
• Poverty rate: 15.2%

46. Tallahassee

• Population total: 198,259
• Population 65+ (#): 22,208
• Population 65+ (%): 11.2%

• Household total: 81,846
• Household median income: $52,899
• Single family home average value: $303,784

• Average monthly mortgage cost: $1,723
• Average monthly expenditure cost: $1,971
• Total monthly cost-of-living: $3,694
• Total annual cost-of-living: $44,326
• Livability: 85/100

• Unemployment rate: 4.3%
• Cost-burdened households (35% or more): 19.3%
• Poverty rate: 24.3%

47. Bonita Springs

• Population total: 53,945
• Population 65+ (#): 22,271
• Population 65+ (%): 41.3%

• Household total: 23,979
• Household median income: $84,668
• Single family home average value: $652,064

• Average monthly mortgage cost: $3,698
• Average monthly expenditure cost: $2,086
• Total monthly cost-of-living: $5,784
• Total annual cost-of-living: $69,411
• Livability: 70/100

• Unemployment rate: 1.6%
• Cost-burdened households (35% or more): 32.6%
• Poverty rate: 7.9%

48. Clearwater

• Population total: 116,984
• Population 65+ (#): 27,498
• Population 65+ (%): 23.5%

• Household total: 49,592
• Household median income: $59,358
• Single family home average value: $414,213

• Average monthly mortgage cost: $2,349
• Average monthly expenditure cost: $2,065
• Total monthly cost-of-living: $4,414
• Total annual cost-of-living: $52,972
• Livability: 81/100

• Unemployment rate: 2.7%
• Cost-burdened households (35% or more): 25.5%
• Poverty rate: 16.2%

49. Wellington

• Population total: 61,373
• Population 65+ (#): 10,912
• Population 65+ (%): 17.8%

• Household total: 21,163
• Household median income: $105,848
• Single family home average value: $699,482

• Average monthly mortgage cost: $3,967
• Average monthly expenditure cost: $2,246
• Total monthly cost-of-living: $6,213
• Total annual cost-of-living: $74,552
• Livability: 73/100

• Unemployment rate: 2.9%
• Cost-burdened households (35% or more): 25.7%
• Poverty rate: 6.3%

50. Daytona Beach

• Population total: 73,329
• Population 65+ (#): 15,772
• Population 65+ (%): 21.5%

• Household total: 32,216
• Household median income: $47,608
• Single family home average value: $296,629

• Average monthly mortgage cost: $1,682
• Average monthly expenditure cost: $1,919
• Total monthly cost-of-living: $3,601
• Total annual cost-of-living: $43,216
• Livability: 80/100

• Unemployment rate: 2.6%
• Cost-burdened households (35% or more): 27.0%
• Poverty rate: 20.3%

Photo disclaimer: Photos are for illustrative purposes only. In many cases, the closest major city outside of the city/county mentioned in the article was used.

Methodology: For this study, GOBankingRates analyzed cities in Florida to find the places where homeowners have the worst financial stress. First GOBankingRates found the top 100 cities by population according to the U.S. Census American Community Survey. For each city a number of factors were found including; total population, population ages 65 and over, percent population ages 65 and over, total households, household median income, unemployment rate, poverty rate and percent of households that spend 35% or more of household income on selected monthly owner costs all sourced from the U.S. Census American Community Surveys S1901, S0101, S1701, DP03 and DP04. The average single-family home value was found by using Zillow’s Home Value Index and by assuming a 10% down payment and using the national average 30-year fixed mortgage rate as sourced from the Federal Reserve Economic Data, the average mortgage cost can be calculated for each city. The cost-of-living indexes are sourced from Sperling’s BestPlaces for each city and by using the national average expenditure costs as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure costs for each city can be calculated. Using the average mortgage and expenditure costs, the total cost of living can be calculated. The livability index was sourced from AreaVibes for each city. The poverty rate was scored and weighted at 1.25, the unemployment rate was scored and weighted at 1.25, the percentage of households cost burdened was scored and weighted at 2.00, the average mortgage cost was scored and weighted at 1.00 and the average expenditure cost was scored and weighted at 1.00. All the scores were summed and sorted to show Florida cities where homeowners have the worst financial stress. All data was collected on and is up to date as of Aug. 13, 2024.

This article originally appeared on GOBankingRates.com : 50 Florida Cities Where Homeowners Have the Worst Financial Stress